Finance Minister Arun Jaitley’s drive to sell India-story to foreign investors has provided additional momentum to the recent rally. But much of this rally is led by higher liquidity in MF and F&O, but overall turnover is light.
Tailwinds like good development to monsoon till date, better CPI numbers and increase in MSP has improved domestic sentiment. Apprehension comes on sustainability of the momentum as FII liquidity continues to be muted.
Ushering in a wave of technology-driven reforms, market regulator Sebi on Tuesday allowed startups to list and raise funds with an easier set of norms within India, while it made investments cheque-free for all IPOs.
Asia shares rallied for a sixth straight session as investors chose to be optimistic that Greece would reach a deal with its creditors, while the dollar held broad gains as the prospect of US rate rises came back on the radar.
BSE Sensex on Tuesday rose 74.16 points to 27,804.37, its longest winning streak this year as above-normal monsoon has eased inflation concerns.
NEW YORK – US stocks ended with slight gains on Tuesday, with the Nasdaq eking out another record close while investors continued to await clarity on whether Greece could reach a deal to prevent defaulting on its loans.
The day’s action was quiet, with trading volume below average. While energy shares rose alongside a jump in the price of crude oil, a sharp rise in the US dollar capped broader gains.
LONDON – Britain’s top share index edged higher on Tuesday, lagging a Greece-fuelled rally in euro zone shares as weak results from outsourcing company Bunzl dragged on gains. There was also little cheer from the Confederation of British Industry’s (CBI) monthly industrial trends survey, which showed British factory orders grew this month at their weakest pace in almost two years.
TOKYO – Japan’s Nikkei share average vaulted to the highest level since 1996, ramping up the gains to around 20 percent since the start of the year thanks to signs of a pick up in economic growth, earnings optimism and hopes Greece will avoid a debt default. The Nikkei rose 0.5 percent to 20,922.00, rising above its peak of 20,833.21 hit at the height of the dot-com bubble in 2000.
HONG KONG – Hang Seng Index up 0.4 percent.